PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF JUNE 30, 2013 AND DECEMBER 31, 2012, 2011 AND 2010 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 UNAUDITED
AND YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 Expressed in thousands of rupiah, unless otherwise stated
100
32. OPERATING EXPENSES
The details of operating expenses are as follows:
Six-Month Periods Ended June 30,
Years Ended December 31, 2012
2013 unaudited
2012 2011
2010
Selling expenses Promotion and advertising
64,312,390 44,150,385
96,506,424 74,423,129
49,629,633 Sales commissions Note 39p
36,527,175 44,931,242
39,136,142 40,745,075
31,316,176 Salaries and employee benefits
4,186,223 3,411,362
7,147,131 5,290,843
4,628,796 Housing and apartment loans
administration 1,160,498
- 4,439,080
2,848,347 5,416,470
Others each below Rp1,000,000 1,539,314
2,571,172 1,090,764
2,421,317 1,702,940
Total selling expenses 107,725,600
95,064,161 148,319,541
125,728,711 92,694,015
General and administrative expenses Salaries and employee benefits
205,126,156 133,372,690
313,905,140 232,932,154
179,350,415 Depreciation Notes 12 and 13
24,063,874 28,183,490
42,632,817 33,952,534
28,656,880 Entertainment, representation
and donations 10,173,881
9,566,941 15,284,467
8,212,812 10,091,844
Electricity, water and telephone 7,290,507
3,589,605 6,798,429
6,800,523 5,859,397
Security 6,737,621
5,027,654 10,316,682
10,645,642 5,646,862
Professional fees 5,111,003
2,400,794 8,900,423
5,193,571 5,000,817
Repairs and maintenance 4,817,201
3,234,385 6,379,406
6,706,738 5,164,420
Supplies 4,131,193
1,714,346 1,384,847
2,858,353 686,123
Travelling and transportation 3,514,711
3,713,298 7,541,943
9,316,873 7,197,551
Insurance 1,975,075
1,513,585 2,888,423
1,678,725 2,293,205
Land and building tax 1,968,779
1,426,698 6,536,455
4,572,176 4,617,791
Permit 1,524,715
614,944 1,847,350
2,136,480 917,401
Printing 733,452
202,453 1,392,090
4,137,751 3,516,186
Tax assessment charges Note 21h -
- 55,432
4,489,570 2,958,137
Others each below Rp1,000,000 18,039,224
12,725,498 33,648,955
20,650,078 15,356,086
Total general and administrative expenses
295,207,392 207,286,381
459,512,859 354,283,980
277,313,115
Total operating expenses 402,932,992
302,350,542 607,832,400
480,012,691 370,007,130
33. FINANCE COSTS
The details of finance costs are as follows:
Six-Month Periods Ended June 30,
Years Ended December 31, 2012
2013 unaudited
2012 2011
2010
Interest expense: Loans from banks
35,480,515 27,534,186
62,756,794 48,811,613
50,527,327 Bonds payable and sukuk ijarah
20,445,000 21,150,000
42,300,000 43,937,159
46,392,479 Loans from financing institutions
556,937 5,436,360
1,078,603 1,013,538
1,411,526 Others
1,465,527 3,680,589
2,148,558 2,442,115
1,554,200
Total finance costs 57,947,979
57,801,135 108,283,955
96,204,425 99,885,532
PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF JUNE 30, 2013 AND DECEMBER 31, 2012, 2011 AND 2010 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 UNAUDITED
AND YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 Expressed in thousands of rupiah, unless otherwise stated
102
34. BALANCES AND TRANSACTIONS WITH RELATED PARTIES continued
The Company and Subsidiaries, in their regular conduct of business, have engaged in transactions with related parties. The balances of the receivablespayables arising from the transactions are as
follows continued:
Amount Percentage to total consolidated assetsliabilities
December 31, December 31,
June 30, 2013 2012
2011 2010
June 30, 2013 2012
2011 2010
Deposits received - non-current Key management
personnel Lexy Arie Tumiwa
1,052,942 -
2,099,196 -
0.0122 -
0.0373 -
Soegianto Nagaria -
- 4,012,450
864,728 -
- 0.0714
0,0217 Harto Djojo Nagaria
- -
- 360,521
- -
- 0,0091
Johanes Mardjuki -
- 2,165,715
- -
- 0.0385
- G.E. Lilies Yamin
- -
2,099,196 -
- -
0.0373 -
Herman Nagaria -
1,459,222 1,088,169
- -
0.0260 0,0273
Other related parties PT Star Maju
Sentosa 6,556,150
- -
- 0.0759
- -
- PT Maktosa Jaya
Indah 977,408
- 2,174,899
378,005 0.0113
- 0.0387
0,0095 Theresia Mareta
- -
2,563,290 -
- -
0.0456 -
Adrianto P. Adhi -
- 2,144,340
- -
- 0.0381
- PT Centrapacific
Nusajaya -
- 225,042
721,783 -
- 0.0040
0,0181 Total deposits received
- non-current 8.586.500
- 18,943,350
3,413,206 0.0994
- 0.3369
0.0857
Total deposits received 16.165.974
19,101,125 23,682,582
3,413,206 0.1892
0.2705 0.4212
0.0857 Due to related parties
Due to related parties - current: Joint ventures
KSO Summarecon Serpong
151,323,943 184,988,967
124,174,218 105,504,721
1.7521 2.6199
2.2087 2.6495
KSO Summarecon Lakeview
96,750,132 46,416,173
103,414,776 84,416,141
1.1203 0.6574
1.8394 2.1198
PT Lestari Kreasi 50,314,412
11,613,360 -
- 0.5826
0.1645 -
- JBC
20,752,453 26,962,466
63,118,664 13,191,823
0.2403 0.3819
1.1227 0.3313
PT Telaga Gading Serpong
10,728,766 5,845,536
- -
0.1242 0.0828
- -
Key management personnel Soetjipto Nagaria
- 28,386,292
- -
- 0.4020
- -
PT Anugrah Damai Abadi
- -
- 90,103
- -
- 0.0023
Total due to related parties - current
329,869,706 304,212,794
290,707,658 203,202,788
3.8193 4.3085
5.1708 5.1029
Due to related parties - non-current:
Key management personnel
Herman Nagaria 1,000
1,000 1,000
- 0.0000
0.0000 0,0000
- Other related party
PT Duta Putra Mahkota
25,970,000 18,620,000
- -
0.3007 0.2637
- -
Total due to related parties - non-current
25,971,000 18,621,000
1,000 -
0.3007 0.2637
0.0000 -
Total due to related parties 355,840,706
322,833,794 290,708,658
203,202,788 4.1200
4.5722 5.1708
5.1029